Climb Bio (NASDAQ:CLYM) Share Price Breaks Above 200 Day Moving Average – Should You Sell?

Climb Bio, Inc. (NASDAQ:CLYM) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.50 and traded as high as $11.54. Climb Bio shares last traded at $11.01, with a volume of 1,783,887 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird raised their price objective on Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. HC Wainwright reissued a “buy” rating on shares of Climb Bio in a research report on Monday, October 12th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Climb Bio in a research report on Thursday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Climb Bio presently has an average rating of “Buy” and an average target price of $28.14.

Climb Bio Stock Up 4.3%

The firm has a fifty day moving average price of $11.80 and a two-hundred day moving average price of $10.53. The stock has a market capitalization of $719.54 million, a P/E ratio of -14.94 and a beta of 0.01.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. Sell-side analysts anticipate that Climb Bio, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total value of $1,367,000.00. Following the completion of the transaction, the director directly owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in Climb Bio in the 1st quarter worth approximately $715,000. BlackRock Inc. purchased a new stake in Climb Bio during the 2nd quarter valued at $30,708,000. Bank of New York Mellon Corp purchased a new stake in Climb Bio during the 2nd quarter valued at $1,613,000. Braidwell LP boosted its stake in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Climb Bio during the 2nd quarter valued at $2,148,000. Institutional investors own 69.76% of the company’s stock.

About Climb Bio

Climb Bio is a clinical-stage biopharmaceutical company developing treatments for autoimmune and inflammatory diseases, with a focus on conditions involving B cells and antibody production. Its lead candidate, budoprutug, is an antibody designed to engage CD19 and FcγRIIb to inhibit B-cell activity. The company is evaluating the candidate in clinical studies for immune-mediated diseases, including immune thrombocytopenia and membranous nephropathy. Climb Bio is also developing CLYM-116, an antibody targeting APRIL, a protein involved in B-cell and antibody activity.